Tomorrow, we are going to close some bank accounts. My wonderful sister-in-law Janis, for a wedding gift, opened us each a checking acct and a savings acct. Each of the savings accts have earned us 0% interest. Really. And if we use them, then it will cost us fees. Each of the checking accts cost us $7.50 per month maintenance fee. No Matter What, whether we use them or not. So thanks, sister in law, but no thanks. This is not a good deal for us. So we are taking what is left of our gift and saying "Good Riddance" to the rubbish bank.
Next month we are closing another bank account, this one of long standing. I'm sorry, but $32.00 fee for writing an $8.00 overdraft check is a bit excessive we think. And a $4.00 fee every couple of days that we don't take care of the overdraft is NONSENSE! They are in a neighboring state, so we can't just rush right over! Gerry has had that acct for 15 years. This morning we got the ball rolling to have the money that is being direct deposited into that account moved to a different account. Once we are certain that will be done, this account is GONE!
My advice? Really read your statements and find out what they are doing. And check all your Credit Card statements, too. And keep a close eye on those debit cards. The Tea Party is all up in arms over excessive taxation. Where is their outrage over the thievery commited by the unregulated banking industry?